ARTICLES ABOUT DENA BANK BY DATE - PAGE 5

MUMBAI: Several small and medium state-owned banks plan to raise funds by selling bonds following finance minister Arun Jaitley's call for all public sector banks to support loan growth while devising ways to bring down bad loans. Syndicate Bank, Bank of Maharashtra , Dena Bank , Bank of Baroda , Central Bank of India and Andhra Bank aim to mop up a total of about Rs 8,000-9,000 crore in the current financial year, market people familiar with the matter told ET. All bonds will be Basel-III compliant, a global standard for capital requirement.

NEW DELHI: A high-level search panel headed by Reserve Bank Governor Raghuram Rajan has shortlisted 10 Executive Directors for the post of Chairman and Managing Director (CMD) in eight public sector banks. Bank of Baroda Executive Directors (ED) B B Joshi and P Srinivas, Punjab & Sind Bank's M K Jain and K K Sansi, IDBI Bank Deputy Managing Director B K Batra are among the 10 who have been shortlisted, sources said. Their names have been sent to the Finance Ministry and would be subsequently forwarded to the Appointments Committee of Cabinet (ACC)

In a chat with ET Now, Sandeep Wagle, Founder & CEO of Power My Wealth, shares his views on Dena Bank Ltd. ET Now: What is your view on Dena Bank Ltd? Sandeep Wagle: Dena Bank Ltd is a 'SELL' call with a target of Rs 54 and a stop loss of Rs 61.5.

MUMBAI: Mid-sized state-run lender Dena Bank today reported about 51 per cent decline in net profit at Rs 52 crore for the September quarter on account of higher provisions for bad assets. The bank had registered net profit of Rs 107.38 crore in the July-September quarter of the previous fiscal, 2013-14. "Our profit was impacted by higher provisions of Rs 352 crore, which we made during the quarter for non-performing assets, against Rs 109 crore in the year ago period," Dena Bank Chairman and Managing Director Ashwani Kumar told reporters here.

NEW DELHI: Mid-sized PSU banks are likely to be affected more than the large banks from the credit costs arising out of developments like Supreme Court ordering cancellation of coal block allocation, a report said. According to India ratings and Research, adequate capitalisation is critical for banks to mitigate concentration risks arising out Supreme Court order on coal block allocation. "We expect most private sector and large public sector banks (PSUs) to be better placed in handling credit costs arising out of this development with sufficient operating and capital buffers," the report said.

NEW DELHI: The Finance Ministry has asked public sector banks to tighten norms, including KYC monitoring for high-value fixed deposits , to check the kind of frauds suspected to have been committed at Dena Bank and OBC. The ministry would like banks to make a full-proof arrangement for high value fixed deposits, including due diligence of know your customer (KYC) details, sources said. Banks have been advised to categorise fixed deposits, which may fall under high value criteria, sources said.

MUMBAI: Bankers have hailed the Prime Minister's call to end "financial untouchability" and opened millions of accounts on the inaugural day itself. Prime Minister Narendra Modi today launched 'Pradhan Mantri Jan Dhan Yojana', aimed at bringing more people -- 7.5 crore households by FY18 -- under the banking fold. State Bank of India, the country's largest lender, said it has already opened 20 lakh basic savings accounts since August 16 and the top management is on the field supervising the account opening process.

NEW DELHI: UCO Bank slipped as much as 8.3 per cent in trade on Wednesday, after the government ordered limited forensic audit into some non-performing accounts of Kolkata-based UCO Bank to find out any irregularities in sanction of loans . At 09:20 a.m.; UCO Bank was trading 6.3 per cent lower at Rs 92.15. It hit a low of Rs 90.15 and a high of Rs 92.90 in trade today. This is the fourth public sector bank where forensic audit is being conducted after alleged cash-for-loan scam came to light with the arrest of Syndicate Bank Chairman and Managing Director S K Jain earlier this month, PTI reported.

NEW DELHI: The government has ordered limited forensic audit into some non-performing accounts of Kolkata-based UCO Bank to find out any irregularities in sanction of loans. "We have ordered a limited forensic audit after complaints were filed with regards to some accounts. Those accounts have turned non-performing," official sources said. This is the fourth public sector bank where forensic audit is being conducted after alleged cash-for-loan scam came to light with the arrest of Syndicate Bank Chairman and Managing Director S K Jain earlier this month.